PT Chandra Daya Investasi Tbk (CDI), a unit of Indonesian petrochemical company PT Chandra Asri Pacific Tbk, is planning to raise 2.37 trillion rupiah (around $146 million) through an initial public offering (IPO), according to the company’s disclosure with the Indonesia Stock Exchange (IDX).
CDI will issue new shares equivalent to 10% of its enlarged capital at a price range of 170–190 rupiah per share in the IPO. BCA Sekuritas, BNI Sekuritas, DBS Vickers Sekuritas Indonesia, Henan Putihrai Sekuritas, OCBC Sekuritas Indonesia, and Trimegah Sekuritas Indonesia have been appointed as underwriters.
The bookbuilding period is scheduled for June 19–24, 2025, followed by the public offering from July 2–4, 2025. The company is expected to be listed on the IDX on July 8, 2025.
CDI plans to allocate 872 billion rupiah from the IPO proceeds to its subsidiaries, PT Chandra Shipping International (CSI) and PT Marina Indah Maritim (MIM), to finance vessel purchases and operational expenses. Meanwhile, nearly 1.5 trillion rupiah will be injected into its port and storage subsidiary, PT Chandra Samudera Port, to fund the construction of storage tanks, ethylene pipelines, and other supporting facilities.
Chandra Daya Investasi is a subsidiary of Chandra Asri that focuses on investments and asset management in the energy, water, shipping, storage, and logistics sectors. Chandra Asri currently holds a 66.67% stake in CDI, while Phoenix Power owns the remaining 33.33%. Following the IPO, Chandra Asri’s ownership will be diluted to 60%, and Phoenix Power’s to 30%, while the public will hold 10%.
The company booked a net profit of $32.7 million in 2024, a significant increase from $1.88 million in 2023. Revenue rose to $102 million in 2024, up from $75.8 million the previous year.
CDI’s IPO is one of the largest in 2025, with total proceeds exceeding 1 trillion rupiah. Earlier this year, property developer PT Bangun Kosambi Sukses Tbk was listed on the IDX in January 2025, raising 2.3 trillion rupiah. This was followed by PT Yupi Indo Jelly Gum Tbk, which debuted in March 2025 and raised over 2 trillion rupiah.
According to the IDX, as of May 23, 2025, a total of 14 companies have gone public, raising more than 7 trillion rupiah. Currently, 20 companies are in the IDX’s IPO pipeline. Of these, seven are large companies with assets exceeding 250 billion rupiah, 11 are mid-sized companies with assets ranging from 50–250 billion rupiah, and the remainder are small companies with assets below 50 billion rupiah.
